Offshore Funds (UCITS)

China A Shares

Latest NAV Price

25.4800
25 February 2021

NAV daily change %

-0.59

Dealing currency

USD

Fund size

USD 40.55 M
29 January 2021

Latest NAV Price

25.4800
25 February 2021

NAV daily change %

-0.59

Dealing currency

USD

Fund size

USD 40.55 M
29 January 2021

Objective

Investment objective summary

The Fund aims to grow the value of your investment over at least 5 years periods, before allowing for fees. The Fund will invest primarily (at least two-thirds of its assets) in China A Shares (shares of companies listed or traded on Chinese stock exchanges, such as the Shanghai Stock Exchange or the Shenzhen Stock Exchange), related equity securities, and related derivatives.

Greg Kuhnert
Portfolio Manager
Greg is a co-head of the 4Factor team at Ninety One. He is the portfolio manager...
Wenchang Ma
Portfolio Manager
Wenchang is co-portfolio manager for the All China Equity Strategy in the 4Factor team at Ninety...

Performance & returns

02/25/2021
As the share class was launched less than 12 months ago, performance is not disclosed.

Key facts

  • Domicile

    Luxembourg
  • Risk profile

    6
  • ISIN

    LU2200695240
  • Bloomberg code

    NICAIUA LX
  • CUSIP

    L6S44C113
  • Benchmark

    MSCI China A Onshore Net Return
  • Morningstar category sector

    China Equity - A Shares
  • Fund inception date

    07/28/2020
  • Share class inception date

    07/28/2020
  • Minimum investment

    USD1,000,000
  • Valuation & transaction cut-off

    16:00 New York Time (forward pricing)

Portfolio & Holdings

Date as of 01/31/2021
Index
Fund
Consumer Staples
15.0
Industrials
13.0
Financials
19.5
Consumer Discretionary
9.1
Health Care
10.1
Information Technology
14.1
Materials
9.1
Communication Services
1.9
Energy
1.0
Real Estate
2.4
Unclassified
3.4
Other
1.4
Cash

Charges

Maximum initial charge %

5.00

Ongoing charge %

1.08
The Fund may incur further expenses (not included in the above Ongoing charge) as permitted by the Prospectus.

Specific fund risks

Concentrated portfolio

The portfolio invests in a relatively small number of individual holdings. This may mean wider fluctuations in value than more broadly invested portfolios.

Currency exchange

Changes in the relative values of different currencies may adversely affect the value of investments and any related income.

Derivatives

The use of derivatives is not intended to increase the overall level of risk. However, the use of derivatives may still lead to large changes in value and includes the potential for large financial loss. A counterparty to a derivative transaction may fail to meet its obligations which may also lead to a financial loss.

Emerging market (inc. China)

These markets carry a higher risk of financial loss than more developed markets as they may have less developed legal, political, economic or other systems.

Equity investment

The value of equities (e.g. shares) and equity-related investments may vary according to company profits and future prospects as well as more general market factors. In the event of a company default (e.g. insolvency), the owners of their equity rank last in terms of any financial payment from that company.

Geographic / Sector

Investments may be primarily concentrated in specific countries, geographical regions and/or industry sectors. This may mean that the resulting value may decrease whilst portfolios more broadly invested might grow.

We recommend that you seek independent financial advice to ensure this Fund is suitable for your investment needs.

All the information contained in this communication is believed to be reliable but may be inaccurate or incomplete. Any opinions stated are honestly held but are not guaranteed and should not be relied upon.

This communication is provided for general information only. It is not an invitation to make an investment nor does it constitute an offer for sale. The full documentation that should be considered before making an investment, including the Prospectus and Key Investor Information Documents, which set out the Fund specific risks, are available from Ninety One. This Fund should be considered as a long-term investment.

Performance data source: © Morningstar, NAV based, (net of fees, excluding initial charges), total return, in the share class dealing currency. Performance would be lower had initial charges been included as an initial charge of up to 5% (10% for S shares) may be applied to your investment. This means that for an investment of $1,000, where the initial charge equals 5%, $950 ($900 for S shares) would actually be invested in the Fund. Returns to individual investors will vary in accordance with their personal tax status and tax domicile.

Morningstar Analyst rating™: Copyright © 2020. Morningstar. All Rights Reserved. The information, data and opinions expressed and contained herein are proprietary to Morningstar and/or its content providers and are not intended to represent investment advice or recommendation to buy or sell any security; are not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this Rating, Rating Report or Information contained therein.

The overall rating for a fund, often called the ‘star rating’, is a third party rating derived from a quantitative methodology that rates funds based on an enhanced Morningstar™ Risk-Adjusted Return measure. ‘Star ratings’ run from 1 star (lowest) to 5 stars (highest) and are reviewed at the end of every calendar month. The various funds are ranked by their Morningstar™ Risk-Adjusted Return scores and relevant stars are assigned. It is important to note that individual shareclasses of each fund are evaluated separately and their ratings may differ depending on the launch date, fees and expenses relevant to the shareclass. In order to achieve a rating the share class of a fund must have a minimum three-year performance track record.

For a full description of the ratings, please see our ratings guide. A rating is not a recommendation to buy, sell or hold a fund.

The portfolio may change significantly over a short period of time. This is not a buy or sell recommendation for any particular security. Figures may not always sum to 100 due to rounding. 

For an explanation of statistical terms, please see our glossary.